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Possible Bearish Inside Day Candle Pattern Detected for Fiserv Inc (NASDAQ:FISV)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Fiserv Inc (NASDAQ:FISV) based on the price action in the company's shares. Yesterday's price range of $102.67 and $104.26 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Fiserv Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Fiserv Inc share prices have moved between a 52-week high of $125.05 and a 52-week low of $73.50 and closed yesterday at 40% above that low price at $103.06 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 1.6%.

Fiserv, Inc. provides integrated information management and electronic commerce systems and services. The Company's solutions include transaction processing, electronic bill payment and presentment, business process outsourcing, document distribution services, and software and systems solutions.

Based on a current price of $103.06, Fiserv Inc is currently 27.5% above its average consensus analyst price target of $74.68. The stock should hit resistance at its 200-day moving average (MA) of $107.35, as well as support at its 50-day MA of $98.74.

SmarTrend is tracking the current trend status for Fiserv Inc and will alert subscribers who have FISV in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle fiserv inc

Ticker(s): FISV